FinMin proposes sweeping changes in FDI regime

June 18, 2013 21:31

Seeking to promote India as an investment destination, the Finance Ministry today proposed sweeping changes in the FDI regime, favouring higher sectoral caps in almost all sectors including defence, multi-brand retail and telecom.

Virtually doing away with the 26 per cent ceiling, a committee headed by Economic Affairs Secretary Arvind Mayaram recommended that Foreign Direct Investment limit be raised to 49 per cent in almost all sectors through automatic route.

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